On this episode of the Hayek Program Podcast, Peter Boettke gives the opening keynote lecture at the 2022 Markets & Society conference. In this lecture, Boettke speaks on the importance of “relations before transactions”, emphasizes the impact of social interactions on economic activity and the role of trust, norms, and institutions, and highlights the insights of Adam Smith, F.A. Hayek, and Elinor Ostrom. Boettke explores the intersections between markets and society, opening the conference with a discussion of its theme.

Peter Boettke is a Distinguished University Professor of Economics and Philosophy at George Mason University and Director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics and Economics at the Mercatus Center at George Mason University. He has published numerous books including Money and the Rule of Law: Generality and Predictability in Monetary Institutions (2021), Living Economics: Yesterday, Today, and Tomorrow (2012), and Challenging Institutional Analysis and Development: The Bloomington School (2009).

This lecture has been published in the Markets & Society Journal, Volume 1 Issue 1, as "Toward a Theory of Social Cooperation under the Division of Labor." Learn more about the Markets & Society conference and journal here.

If you like the show, please subscribe, leave a 5-star review, and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts.

Virtual Sentiments, our new podcast series from the Hayek Program is streaming! Subscribe today and listen to seasons one and two.

Follow the Hayek Program on Twitter: @HayekProgram

Learn more about Academic & Student Programs

Follow the Mercatus Center on Twitter: @mercatus

CC Music: Twisterium